Crypto traders lost about $723 million to liquidations in the 24 hours after the October US CPI release on November 10, crypto.news reported on November 11, citing CoinGlass data. Headline CPI rose 0.4% against a 0.3% forecast.
According to crypto.news, roughly $570 million of the total came from long positions, across about 115,600 traders. Bitcoin accounted for $203 million, of which $175 million were longs and $28 million were shorts. Bitcoin traded near $73,700 and briefly dipped below $73,000.
Ethereum was hit harder in relative terms. crypto.news reported about $259 million in ETH liquidations over 24 hours, with longs at $192 million (74%) and shorts at $67 million. ETH traded around $2,061, down 2.93% on the day and 8.24% over seven days. US spot Ethereum ETFs recorded $184.6 million in net outflows on November 9, their third straight day of withdrawals, per Farside Investors data cited by the outlet.
Some large holders were buying, crypto.news said. Lookonchain data showed the wallet group “7 Siblings” bought 10,792 ETH, about $22 million at an average price of $2,038. BitMine bought another 9,587 ETH, lifting its holdings to about 6.07 million ETH. Analyst Ali Martinez reported that other large holders trimmed about 17,800 ETH over the prior week, and the outlet noted this does not show how much those moves affected the price.
The next catalyst is the October Producer Price Index report, due November 13 at 8:30 a.m. ET, crypto.news said.
Track the market yourself with AiTraderView’s FREE tools: Crypto Cockpit for charts and 75+ indicators, Crypto Screener to find setups, and Crypto Portfolio to follow your holdings. Just create a FREE account and try them yourself!
Sources:
crypto.news: Why is Bitcoin price down today? Hot CPI triggers $723M liquidations
crypto.news: Here’s why Ethereum price is falling, but could ETH rebound before hitting $2,000?
⚠️ RISK WARNING & AI DISCLOSURE
- This information is generated by Artificial Intelligence (AI) and complex algorithms. While advanced, these systems can contain errors or inaccuracies and are for educational purposes only.
- Technical analysis provides no guarantees; this information is purely informative.
- All discussed scenarios are hypothetical and do not constitute predictions or expectations.
- Past performance is not an indicator of future results.
- This is not financial advice and is not intended as a call-to-action for the reader.
- No implicit direction is claimed, and no specific behavior of market participants is suggested.